Alpian, the Swiss challenger bank startup, has bagged $12.5m as it is looking to launch as a fully licensed digital affluent bank in 2021.
It is pursuing a banking licence from the Swiss Financial Market Supervisory Authority (FINMA).
Alpian has been incubated by the Swiss banking group REYL & Cie Ltd.
The budding neobank aims to create an innovative banking offering, tailored to the mass affluent population (with investible assets between $102,700 and $1.03m in Switzerland. It estimates that the market is worth $677.8bn.
Alpian’s offering will include tailored investment boutique products, digital face-to-face access to experienced financial advisors, and everyday banking services. Through a modernistic digital interface, Alpian will leverage proprietary and disruptive technology to develop scalable, personalised private banking.
“The genesis of Alpian comes from the clear vision of our experienced and well diversified team,” Schuyler Weiss, CEO of Alpian. “This brings with it an ability to execute our vision, unimpeded, with technology and innovation underpinning everything we do. Securing the Series A funding is a testament to our business and our ability to execute. It is a big step towards reaching full technological and operational readiness over the coming months.”
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